Performance Dashboard at the National Bank of Belgium
Gaining a better understanding of machine processing behavior, and any potential issues, helps banks to optimize banknote sorting. Fine-tuning the collection and analysis of data improves system insights and facilitates faster identification of problems and more streamlined operations, helping banks to ensure they reach their KPIs.
G+D has been the National Bank of Belgium’s currency management partner for over 30 years. Their cash center sorting operations are located in Brussels and they operate six BPS® M7 and two BPS® 1000. One of the main challenges to optimize their cash center operations was a lack of information regarding the quality of the processed banknotes and the machine processing behaviour. Online and real-time information about the quality of the processed banknotes, combined with reject reasons, sensor data, jam information and throughput can lead to an overall higher productivity and performance.
The analysis of the data gave a new insight into banknote processing, helping to optimize performance and communication.«
The theoretical processing rate for the BPS® M7 is 33 banknotes per second but in practice this throughput fluctuated significantly.
What was the reason for this? Was it caused by non-optimal machine performance and settings or the banknote quality or was the operator the main reason for this variance in productivity?
With these questions in mind, G+D began a pilot in the summer of 2018 to introduce a new workspace dashboard. The primary objective was to increase throughput and net productivity and to have greater insight into banknote fitness and quality by denomination.
The pilot has been working well, according to Luc Certyn, Head of the banknote sorting division of the National Bank of Belgium (NBB). “There was a close collaboration between G+D and the NBB to establish the main KPIs (Key Performance Indicators). This has resulted in a successful, quick and smoothly installation of the first release on one BPS® M7 and a dedicated data server in Q1 2019. Five prioritized KPI’s were identified: the volume of the processed banknotes, the throughput, the reject reasons, the banknote quality and the jam rate. The collection of the data and the analysis of that data provides a new insight in the banknote process.This knowledge can help us to improve and optimize performance in general. It also establishes “figures-based” communication with the banks on the quality of the delivered banknotes. In future releases, more KPI’s can be expected and algorithms to determine these KPI’s will be fine-tuned based on experiences from the field. Moreover, this data is a valuable source to perform data analytics at a later stage” summarizes Certyn.
The first step to a digital cash center
G+D Currency Technology’s Advanced Currency Management solutions, including integrated end-to-end software solutions such as the Performance Dashboard, are designed to support future innovation, including blockchain developments, data analytics and emerging technologies.